Ask the Experts: Up-Front Reserves
What is the industrywide uncollectable percentage for accounts receivable that hospitals can set aside as up-front reserves?
Acquiring Physician Practices: Key Strategic Considerations for a Successful Transaction
Health systems seeking to acquire physician practices should first develop a thoughtful physician acquisition strategy that considers factors such as whether the focus will be on primary care physicians or specialists and the extent to which the strategy is offensive or defensive.
Selecting the Right Costing Model
By using cost data at appropriate levels of accuracy and detail to support decision making, hospital finance leaders can minimize the risk of incorrect decisions caused by insufficiently precise data.
Sample Footnote for a Cost Accounting Report
This is an example of the type of footnote an organization might provide in its cost accounting report and is intended to serve as a template for such a footnote. It originally accompanied the article “Selecting the Right Costing Model,” by Paul Selivanoff, CPA (November 2018 hfm).
Ask the Experts: Reagent Agreements
How do you record reagent agreements for which the vendor locks in the price on various reagents if the hospital commits to a minimum purchase quantity each year?
‘Service Rationalization’ the Most Stubborn Cost Challenge: Hospital Survey
Oct. 15—The area where hospitals struggle most to find savings is in efforts to reduce or eliminate services.
Oct. 14-19: Healthcare Costs a Priority for Public, Policymakers
Oct. 11—Healthcare costs are likely to be a major focus in a discussion next week featuring Seema Verma, administrator of the Centers for Medicare & Medicaid (CMS). And heading into the 2018 midterm elections, the cost of health care is a top priority in both public polling and congressional planning.
Key Factors in Cath Lab Financial Performance
The average cath lab program generates a negative profit margin on Medicare patients, and that population is growing. Analyzing cath lab care pathway design can help hospital leaders bend the cost curve back to operating profitability.
Cost Accounting: Bridging the Gap Between Where You Are and Where You Should Be
By creating a single source of truth, MultiCare aims to have coordinated oversight of all data, including security and design, and provide a consistent training curriculum for its finance team.
Regional Hospital’s Focus on Rapid Results Reaps $6M in Savings
Henry Ford West Bloomfield uses 100-day productivity cycles to improve operations and reduce waste. Over a three-year period, the hospital saved $8.7 million contributing to a financial performance turnaround.